July 2019, Vol. 246, No. 7
Global News
Saudi Aramco Inks 20-year Deal with Sempra for LNG Supply
Saudi Aramco has signed a 20-year agreement to buy LNG from an export terminal that U.S.-based Sempra Energy is developing on the Texas Gulf Coast. Aramco will buy a 25% equity stake in the first phase of the multibillion-dollar project, to be constructed in Port Arthur, about 90 miles from Houston, the companies said. The sale-and-purchase agreement for 5 MTPA of LNG is Saudi Arabia’s first known, non-binding agreement to buy LNG and the largest such LNG deal since 2013, according to Wood Mackenzie. “Port Arthur LNG could be one of the largest LNG export projects in North America, with potential expansion capabilities of up to eight liquefaction trains or approximately 45 MTPA of capacity
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